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DBS upgrades Nio (NIO) to a Buy
Nio received a Buy rating and a $7.70 price target from DBS analyst Raphael Wut Hei today.
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According to TipRanks, Wut Hei is ranked #8217 out of 12068 analysts.
In addition to DBS, Nio also received a Buy from HSBC’s Yuqian Ding in a report issued on March 13. However, on March 11, Barclays maintained a Sell rating on Nio (NYSE: NIO).
Based on Nio’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.01 billion and a GAAP net loss of $5.14 billion. In comparison, last year the company earned a revenue of $17.45 billion and had a GAAP net loss of $5.13 billion
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